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Families with lower incomes will be hit much harder – News



Families with lower incomes will be hit much harder - News

In an article in the Financial Stability Report released today, ECB economists note that lower-income households tend to be the most likely to default.

ECB Vice President Luis de Guindos will present the report on Wednesday at a virtual press conference, from which the ECB expected some information today.

The countries where banks will have the most problem loans due to defaults due to inflation and rising interest rates are Cyprus, Greece, Ireland, Spain and Portugal.

Banks in these countries already had higher interest rates on these loans before prices rose so much and the ECB started raising interest rates.

The deterioration in asset quality will affect banks in countries with a higher share of loans to lower-income households, which are more affected by inflation and rising interest rates and have fewer liquid assets.

Low-income households spend 70% of their income on basic expenses such as food, energy, or housing, compared to 34% of middle-income households.

The impact of higher interest rates in the short term is smaller for fixed rate loans, but much larger for variable rate loans.

However, in the medium to long term, the rise in the price of money will lead to higher mortgage rates, which will significantly increase the cost of debt repayment for families who took out mortgages in years when interest rates were very high.

A 10% increase in basic living expenses that is not offset by rising incomes reduces purchasing power by more than 20% for low-income households, compared with 5% for middle-income households, according to ECB economists. .

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“Lower income families have little financial margin to cushion higher food and energy prices,” especially in countries with high debt and low savings, the ECB report adds.

The increase in interest rates will hit households in countries where mortgages are mostly issued at floating rates.

Households are the largest beneficiaries of bank loans in the eurozone.

Secured mortgages accounted for over 75% of household debt on bank balance sheets in the second quarter of 2022, while unsecured consumer loans accounted for 10%.

More than 70% of household bank debt in the eurozone is held by higher income households, compared to 13% by lower income households.

But the percentage of consumer loans that historically default more than mortgages is much higher among low-income households.

The majority of NPLs in banks are mortgages, but in some countries there are many more NPLs.

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Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners



Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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The first Dacia hybrid. “The cheapest hybrid family on the market”



The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios



Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.

Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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